UTX's Pratt & Whitney Wins A320 Engine Deal

Pratt & Whitney --- a unit of United Technologies Corporation (NYSE:UTX) – recently announced that it has inked a deal with an undisclosed leasing company to provide its PW1100G-JM and V2500 engines. The company will be providing these engines to power 32 A320 family aircraft.

The company’s PurePower Geared Turbofan engine has successfully helped in fuel burn reduction, decreased noise pollution by approximately 75%, and reduced around 50% regulated emissions.

Alongside, the company has delivered over 7,000 V2500 engines to worldwide customers. The V2500 engines are developed by IAE International Aero Engines AG, a multinational aero engine consortium that includes Pratt & Whitney; Pratt & Whitney Aero Engines International GmbH; Japanese Aero Engines Corporation; and MTU Aero Engines GmbH.

This deal will help the company improve its foothold in the market as well as increase its top-line growth going forward.

Pratt & Whitney is among the world’s leading suppliers of aircraft engines to the commercial, military, business jet and general aviation markets. Its Global Services provide maintenance, repair and overhaul services, including the sale of spare parts and fleet management services for large commercial engines.

Based in Hartford, CT, the parent company United Technologies provides high-end technology products and services to the building systems and aerospace industries worldwide. The company serves various end markets such as aerospace, defense and commercial construction. The business diversification allows the company to remain profitable amid tough economic times.

United Technologies presently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the industry include Leucadia National Corp. (NYSE:LUK) , Honeywell International Inc. (NYSE:HON) and Carlisle Companies Inc. (NYSE:CSL) . Carlisle sports a Zacks Rank #1 (Strong Buy) while Honeywell and Leucadia carry a Zacks Rank #2 (Buy).